Penserra Capital Management LLC Grows Position in Check Point Software Technologies Ltd. $CHKP

Penserra Capital Management LLC lifted its holdings in shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 468,954 shares of the technology company’s stock after acquiring an additional 57,817 shares during the period. Check Point Software Technologies accounts for about 1.2% of Penserra Capital Management LLC’s holdings, making the stock its 12th biggest position. Penserra Capital Management LLC owned approximately 0.43% of Check Point Software Technologies worth $97,030,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in shares of Check Point Software Technologies in the 1st quarter valued at approximately $262,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Check Point Software Technologies by 2.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,022 shares of the technology company’s stock worth $890,000 after purchasing an additional 85 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Check Point Software Technologies during the second quarter worth $94,000. Grimes & Company Inc. grew its position in Check Point Software Technologies by 9.4% in the 2nd quarter. Grimes & Company Inc. now owns 4,345 shares of the technology company’s stock valued at $961,000 after buying an additional 372 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in Check Point Software Technologies by 4.2% in the 2nd quarter. Marks Group Wealth Management Inc now owns 4,192 shares of the technology company’s stock valued at $927,000 after buying an additional 168 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CHKP shares. Truist Financial set a $225.00 target price on shares of Check Point Software Technologies in a research note on Tuesday, January 20th. Stephens raised shares of Check Point Software Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $225.00 to $240.00 in a report on Wednesday, January 14th. BMO Capital Markets lifted their price objective on Check Point Software Technologies from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Piper Sandler dropped their target price on Check Point Software Technologies from $260.00 to $240.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. Finally, Citigroup reduced their price target on Check Point Software Technologies from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.62.

Check Point Software Technologies Price Performance

NASDAQ CHKP opened at $174.07 on Wednesday. The business has a 50 day moving average price of $186.79 and a 200 day moving average price of $192.77. The company has a market capitalization of $19.14 billion, a P/E ratio of 19.07, a PEG ratio of 2.90 and a beta of 0.58. Check Point Software Technologies Ltd. has a 1-year low of $173.15 and a 1-year high of $234.35.

About Check Point Software Technologies

Check Point Software Technologies Ltd. is an Israeli-founded cybersecurity company that develops, markets and supports a broad portfolio of network, cloud and endpoint security products. Founded in 1993, the company was an early pioneer of stateful inspection firewall technology and later developed a modular “software blade” approach that allowed customers to combine protection capabilities. Check Point’s product set spans physical and virtual security appliances, software and cloud-native services designed to prevent cyberattacks, protect data and simplify security management for enterprises and service providers.

Key product families include Quantum Security Gateways (on-premises and hybrid appliances), CloudGuard (cloud security posture and workload protection), Harmony (endpoint, remote access and unified endpoint security), and SandBlast (advanced threat prevention and sandboxing).